Most players don’t realize there’s a difference between crypto-exclusive and traditional online casinos. But understanding the difference between the two is crucial if you want to take advantage of the many benefits that crypto casinos offer that a traditional online casino can’t provide.
This article will look at the features and benefits of cryptocurrency casinos that are superior to online casinos that accept fiat currency as their payment method.
Anonymity is assured when gambling using a crypto casino because no personal information is stored in your cryptocurrency wallet. Compared with credit cards as a payment method, your entire financial history with the credit card issuer is available to government entities desiring to pry into your private life.
In addition, there is no end-the-month statement detailing every transaction you made using cryptocurrency as there are with credit cards, checking accounts, and savings accounts.
Opening an online gambling account using cryptocurrency is a simple matter of transferring crypto from your selected wallet to the casino’s designated wallet and beginning to play the game.
Low or No Fees
One of the primary benefits of using a cryptocurrency casino is the absence of unnecessary fees and commissions. There are no profit-eating middlemen such as banks or Defi payment transfer companies between you and the casino.
Traditional payment transfers require a bank or another institution to handle your money. You get to pay for the privilege of allowing those institutions to earn interest on your deposits.
Those fees don’t exist when you’re gambling with cryptocurrency because the transaction occurs directly between you and the casino. If the platform you’re using charges a fee for deposits and withdrawals, you might want to choose a different platform.
The next difference between crypto casinos and traditional online casinos is the availability of commission-free currencies in which you can gamble.
Traditional online casinos offer multiple payment options such as credit cards, debit cards, checking accounts, and other fiat methods. These payment methods require you to pay fees that quickly add up if you’re a frequent gambler.
As an alternative, cryptocurrency casinos offer multiple cryptocurrencies from which to choose as payment. For example, some crypto casinos allow you to play using Bitcoin, Litecoin, Ethereum, or Dogecoin.
All cryptocurrency payment methods are commission-free, while the fiat currency methods always require an exchange fee.
Payments are Safely Encrypted
When engaging in online financial transactions, you should only use sites that have encrypted secure socket layer (SSL) software installed.
But cyber security cryptocurrency payment methods go a step further. Not only are your transactions encrypted, but your payments are made with an encrypted wallet that can’t be cracked. Only you will know what your online activities involve, and no one else, not even the people with whom you do business.
Financial transactions using cryptocurrency have proven far superior to any other payment method. But that security can be compromised if you transfer coins to an unsecured website.
Look at the Big Picture
There are multiple factors to consider when deciding between gambling with a crypto casino and a traditional online casino. Various costs combined with the bonuses and features of different sites must be weighed before making a final decision.
There are safety, security, and the anonymity of your identity factors to consider. In addition, the features and functions of the website and available games to play should be compared. Use the internet to research the trustworthiness of the gambling sites you’re considering for fairness and free of scandal.
And above all, gamble responsibly to ensure that your online gambling remains an enjoyable way to earn money and relax.